Mum and Dads bearing brunt of mortgagee sales rise

Figures from Terralink International show there were 652 forced sales in the last quarter, an increase from 584 in the previous quarter.

Terralink managing director Mike Donald said the number of mortgagee sales had been trending down in the first part of 2011, but since July the number of forced sales was climbing back towards record highs.

"Mum and dad property owners are losing their family homes," he said.

"In 2009 at the height of the recession it was predominantly the over-committed property investors and developers that were losing their investments to mortgagee sales.